(Source: Reuters, October 20, 2015)
NEW YORK — Canadian Pacific Railway Ltd reported a better-than-expected quarterly profit, helped by higher freight rates and lower operating costs. CP Rail said freight revenue per carload rose 5 per cent in the third quarter ended Sept. 30 even as carloads fell 2.6 per cent. Revenue rose 2.3 per cent to $1.71-billion. Operating ratio, or operating costs as a percentage of revenue, improved to 59.9 per cent from 62.8 per cent.
Full story: Reuters